An eastern India-based leading steel mill has concluded an export tender for 25,000 t of steel billets (150x150mm; grade: 3SP/4SP) for Sept’21 shipment, SteelMint learnt from sources. The deal has been concluded at around $650/t FoB (equivalent to $725/t CFR China). Hike in rebar futures, China’s steel production cuts, loss in steel output by Iranian mills due to power outages have all kept demand for Indian billets firm in the global market.
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